As part of the Finance Bill 2009, the Government has introduced a tax incentive aimed at encouraging more employees to cycle to and from work. The proposal is to exempt from income tax and PRSI the purchase of a bicycle/related bicycle safety equipment if the employee buys it through their employer and where the bicycle/related bicycle safety equipment is used by the employee mainly for the journey to and from work.
UCC is offering its employees the option to purchase a bicycle and related bicycle safety equipment through the University, as UCC will buy the bicycle/related bicycle safety equipment and the employee will reimburse UCC by means of a salary deduction, which will be exempt from income tax and PRSI. The UCC Employer Bicycle Scheme is operated by the Commuter Plan Manager (Buildings and Estates) and Human Resources. For full details on the scheme, please visit http://www.ucc.ie/en/build/commuting/cycling/c2w/